Marital Money

Discussion in 'Mindless Banter' started by Erik, May 28, 2009.

  1. Erik

    Erik Admin

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    This question is for anyone reading, whether you're married or not as you can still give your opinion on your belief/preferences.

    When you get married, does your money stay separate or does it get all pooled together. So in the former, you make your money and it's yours and your spouse makes their money and it's theirs. Then there's also likely a division of bill payments to be made, but beyond that you're only accountable to yourself ... because it's your money.

    Or do you pool it so that it's YOUR money with YOUR being you and your spouse together?

    Just curious what people think about this.

    For me, I never understood separate money once you get married. Everything I make is my wife's and vice versa.

    For those that believe in separate money, what's the reasoning?
     
  2. kirstny

    kirstny Well-Known Member

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    We have a joint account to which we both contribute, as a percentage of our salaries. This money goes to bills, mortgage, joint purchases (e.g. a tv, vacations), and entertainment we do together (dinners, movies, etc.).

    We also have a joint savings account and share our investments.

    We both then have our own accounts, into which we put the reminder of our paychecks. We do it this way so we have no say and no concern for how we spend our own money. I can buy my training :)clap:) and he can buy his video games and we never have to worry that the other is "spending too much."

    I am SUCH a big fan of doing it this way. We have NEVER fought about money.
     
  3. mackie

    mackie With my hero, Brigitte Gabriel

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    I think what's mine should be mine and what's his should be ours.










    :lol:





    :cardio:
     
    • Like Like x 1
  4. RpH

    RpH I'm actually educated

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    It all goes together. But if you want your own money, incorporate a couple of businesses and the wife doesn't see those accounts. :D
     
  5. Cathie

    Cathie I have SFP :mecry:

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    Our money is all together, no separate accounts here.
     
  6. Blondell

    Blondell Former Postwhore

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    :ditto:

    While I do have an account that I solely use, he has full access to it also. It's just used for my 'girly' stuff though...mani/pedi/waxing etc.
     
  7. kirstny

    kirstny Well-Known Member

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    Huh. I'm surprised more people don't do it like we do.

    Cool. Too each their own.
     
  8. Gnat

    Gnat Well-Known Member

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    Our accounts are separate. Bills are divided and shared equally.

    John and I had each lived independently for years before we got together. Not to mention the fact that we moved in together rather suddenly and 4 years before we married. We just never saw the point in combining our accounts.

    It has never been an issue. I don't think of my account as "my" money, and he feels the same about his. We both have each other's pin numbers. If I haven't made it to the bank, he will give me money from his wallet and vice versa.
     
  9. Patricia

    Patricia Well-Known Member

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    :lol:


    I dunno, I guess it would depend for me.

    Ideally, I'd like it to be completely joint...we both contribute and pay bills out of one single account...

    but, that's best case scenario... If I were making more money and he was slightly lazy then I'd want my own account to be able to do freely what I wanted with my earnings that he couldn't touch. I'm sure he may feel the same. :shrug:

    Then again, I may feel like being the sugar momma or vice versa :lol3:, so I really couldn't say.

    I DO know that being a complete SAHW is definitely not for me....I NEED to make my own money and be able to do what I please with it--no questions asked or eye brows raised.
     
  10. StefanM

    StefanM Prescription: More Cowbells

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    Joint accounts all the way in marriage IMHO. We have very similar thoughts and habits about money.

    If one person was a spender/credit card junky and the other a saver...I think a good argument could be made for seperate accounts. However, you don't just marry the person - you marry their debt problems too.

    Counselors say that $$ is one of the biggest stressors in a marriage.
     
  11. pavermama

    pavermama Rut Row!

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    We put our money into one account and both spend out of it, regardless of who put what in. Bills get paid out of it, groceries, gas, etc..

    My sil and her husband have a weird relationship. They each have their own money and it causes arguments all the time. Who pays what, why do I have to pay for this, why can't you....blah, blah,blah,blah,blah...drives me insane!!
     
  12. TriciaE

    TriciaE My Sweet Clipper

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    Geeze it's been "our" money since we started living together (did that for 10 years) and still is now that we're married (almost 6 years).
    We agree on our saving, spending and investment goals so it's never been a problem.

    We've talked about setting up separate accounts that we'd put a little money in, BUT that was only so we could buy each other gifts without the other knowing how much they were or where they came from.
     
  13. Anca

    Anca Well-Known Member

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    My hubby is the sole breadwinner so that makes it easy for us. He takes care of everything related to our finances- bill paying, investment decisions, debt issues. He consults me on the major decisions of course but he is the head of the household and whatever he says goes even though sometimes I don't agree with him.
     
  14. Erik

    Erik Admin

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    We put all our income in one joint account. But we also each have separate personal accounts that we put a weekly allowance (MAD money) into from that joint account.

    So our regular bills, etc. come out of our joint account, but when we want to buy something for ourselves, we save up in our personal accounts from the weekly allowance. So if she wants new jeans, she saves up in her MAD money account. Same for me.

    Works well for us, as it works well with a family budget - which isn't so much a budget in the same of needing to cut costs, but just a means of knowing where everything is going.
     
  15. RpH

    RpH I'm actually educated

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    I'm telling ya, incorporate again. Other than the extra few hundred dollars come tax time,...................
     
  16. Erik

    Erik Admin

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    What do you mean?
     
  17. RpH

    RpH I'm actually educated

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    Start a corporation and business related to whatever your hobbie is or what you spend a lot of money on. For me, it's hunting. Granted, I have a legit business, but I save thousands of dollars a year doing this. I also have the farms to write off "other" stuff like tractors, ATV's, equipment, etc.
     
  18. Jen

    Jen Well-Known Member

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    This is interesting...
     
  19. RpH

    RpH I'm actually educated

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    And legal!:lol:
     
  20. fitmonkey

    fitmonkey Well-Known Member

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    All together for us...
    I've been the bread winner, and now hubby is, as well as us jointly sharing burdens. We share everything, and we're suppose to have our own "play money" every week , but we rarely stick to it. If we need it, we talk about it and budget it and buy it.
     

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